Gabriel Richard Building Promises Over 100 Future Apartments

As happy renters flood into fresh apartments at the Whitney and the Ashley, another empty office building is defecting to Team Residential. Take a look at theGabriel Richard Building, a former Archdiocese of Detroit property kitty-corner from the Book Cadillac hotel. Built in 1914, the Gabriel Richard has 10 floors dressed in terra cotta. With a conversion into 110 apartments on the horizon, the building is under contract to be sold for $3.2M.

The buyer, Barbat Holdings, has been doing an awfully good impression of a Dan Gilbert shopping spree. With this purchase, the Barbat Machine will have gobbled up two office buildings, a low-income apartment tower, and part of a hotel since early 2014. Barbat’s promised renovation investment now totals $26.5M, with 388 market-rate apartments planned. We’ll be excited to see the first one.